RM93mil boost for Malaysia's creative industry through Australia, South Korea deals
ISKANDAR PUTERI: Malaysia’s creative industry is set for a RM93 million boost through two international production deals with Australia and South Korea over the next two years.
Malaysia's creative industry is poised to receive a significant RM93 million boost through two lucrative international production partnerships with Australia and South Korea. Economy Minister Akmal Nasrullah Mohd Nasir announced the deals, led by OMG Studios in collaboration with Madman Entertainment from Australia and Greenpatch Studio from South Korea.
The RM42 million Malaysia-Australia film and television production and the RM51 million Malaysia-Korea feature film will create opportunities for local talents, vendors, studios, and intellectual property owners to contribute to global productions. Akmal highlighted that these partnerships would not only strengthen Malaysia's creative industry but also position Johor as a potential regional hub for international content, virtual production, generative AI, and creative technology.
However, the minister emphasized that Malaysia must go beyond merely producing content for others and strive to develop ownership of characters, stories, formats, technology, and brands that can generate revenue long after the production has concluded. The cultural and creative industry has already contributed around 6.8% to Malaysia's GDP and RM130.7 billion in gross value added in 2024, according to Department of Statistics Malaysia data.
The sector's growth, including the rise of local box-office hits and successful animation franchises, underscores its potential for economic significance and aligns with the goals of the 13th Malaysia Plan.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
